/ Published in Market Update

Market Performance

Yesterday and today we had great trading days in both long and short trades.

Market Performance

The broad market advanced modestly today. The Russell 2000 outperformed other indexes by climbing up 0.94% while the S&P 500 gained only 0.24%. The NASDAQ 100 pushed to new seven-week high today. The NASDAQ 100 index climbed 0.42% (resulting in a weekly gain of 1.77%). The S&P 500 rose 0.24% (resulting in a weekly advance of 0.78%). The Dow gained 0.06% (bringing its weekly gain to 0.31%).

A volume of 1,586 million shares traded today on the S&P 500, less than the daily average volume of the past 3 months by 24%.

Index

Change

Open

High

Low

Close

Volume

Advances

Declines

Adv/Dcl
Ratio

NYSE Comp.

24.30(0.23)

10,618.37

10,663.42

10,607.76

10,644.70

2,333,386K

1,620

746

2.17

DJI

10.47(0.06)

16,532.74

16,565.39

16,489.61

16,543.40

217,083K

18

12

1.50

S&P 500

4.54(0.24)

1,888.19

1,896.33

1,885.39

1,892.54

1,586,194K

330

167

1.98

Russell 2000

10.38(0.94)

1,105.44

1,116.61

1,105.14

1,113.93

780,659K

1,315

419

3.14

Nasdaq 100

15.25(0.42)

3,639.54

3,660.59

3,633.85

3,650.86

472,578K

67

28

2.39

Short-Term Market Outlook

5-day charts (1 bar = 5 minutes) with a 20-period SBV are showing declining SBV oscillator readings at session’s end. Negative money flow on this chart would suggest the possibility of negative trading tomorrow after the market open. 15-day charts (1 bar = 15 minutes) with a SBV(16) are showing negative money flow (declining SBV) as well, thus confirming 5-day chart’s outlook. 30-day charts (1 bar = 30 minutes) with a 13-period SBV are showing declining SBV, however, SBV readings are at high, positive levels on these charts by suggesting that, even if we see negative trading at the market open, it could be short-lived unless we see stronger SBV decline on the 30-day charts.